German Factory Orders Fall 1% in June, Defying Forecast Rebound

German manufacturing demand slipped again in June, with factory orders down 1.0% from May, official data showed on Wednesday. Economists surveyed ahead of the release had expected a 1.1% increase after a revised 1.4% drop in May, underscoring the continued weakness in Europe’s largest industrial economy. On an annual basis, orders rose 0.8%, decelerating sharply from May’s 5.3% gain and falling short of the 2.1% increase analysts had projected. The disappointing figures add to evidence that Germany’s manufacturing sector is struggling to regain momentum amid subdued global demand and elevated financing costs.